Defendant Pleads Guilty in Structuring Case

PDF Download : Issue 18-story 2.pdf


A woman who continually conducted large cash transactions at casinos and structured those funds at her local bank pleaded guilty to a Title 12, Chapter 21 violation concerning record keeping requirements. Prosecutors charged her with a misdemeanor violation because they did not find any evidence of criminal wrongdoing associated with the origins of the currency. The judge sentenced the defendant to probation and a small assessment and fines. In addition, the defendant forfeited funds that had earlier been seized from her bank account.

Over a period of several months, the defendant made a series of structured deposits into her bank account with currency she received from a casino. In one instance, she received over $10,000 in currency from the casino and deposited the funds on multiple days over the next week. Several months later, she again received over $10,000 from the casino, and engaged in a similar series of deposits.

In addition, the defendant later used over $10,000 to purchase chips at the casino. On the same day, she received over $10,000 from the casino and made successive deposits into her bank account the following week. A number of months later, the defendant again received currency from the casino and engaged in a similar series of deposits. The pattern continued in the following weeks.

The defendant pleaded guilty to a misdemeanor charge under 12 U.S.C 1956.

[Published in The SAR Activity Review - Trends, Tips & Issues, Issue 18, October 2010]